Bye Bye
Winter!!!
As anyone that has been in Hampton Roads for any length of time know, we suffered through one of the coldest, snowiest winters in some time. The cold and snow was most prevalent in the January through March time frame.
When there wasn't snow or ice on the roads, it just simply was cold!
As our brothers and sisters up north and down south, many of us hunkered down in our homes. If we were out, we went to the movies, enclosed malls and any place were warmth could be found.
Thus, no one should be surprised car sales and homes sales lagged the 1st quarter of 2014. You can clearly see impact on our local housing industr in the Summary of Settled Sales provided by the local Multiple Listing Service, REIN.
Yet, the last week to 10 days of Spring weather has already begun to turn the tide!! We should see April show the more robust Spring Sales Time that
everyone expects.
REIN, Inc.
Settled Sales Summary Number of Units by Property Region (Through March 2014)
Month Total Settled Sales Change New Construction - Extract Change
Year From From
Southside Peninsula Total 2013 Southside Peninsula Total 2013
January
2012 885 274 1,159 109 38 147
2013 1039 366 1,405 153 32 185
2014 874 343 1,217 -13.38% 120 45 165 -10.81%
February
2012 1,032 305 1,337 134 27 161
2013 1,052 344 1,396 146 29 175
2014 1,022 347 1,369 -1.93% 124 30 154 -12.00%
March
2012 1,199 425 1,624 147 49 196
2013 1,326 452 1,778 173 37 210
2014 1,238 392 1,630 -8.32% 176 29 205 -2.38%
YTD
Totals
2012 3,116 1,004 4,120 390 114 504
2013 3,417 1,162 4,579 478 98 570
2014 3,134 1,082 4,216 -1.93% 420 104 524 -8.07
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